In 2023, Spain led the European market in sold production of drop forged and precision forged steel parts for land vehicles, with a slight increase of 0.52% from the previous year. Germany, trailing Spain, experienced growth of 1.14%. Italy also saw an increase of 1.11%, consolidating its position in the market. France faced a decline of 2.92%, reflecting market challenges. Notably, Portugal showed remarkable growth at 14.48%, indicating improved competitiveness, while the United Kingdom saw a significant drop of 9.11%. Over the last five years, the market has experienced diverse country-specific growth rates.
Looking forward, technological advancements and shifts toward electric vehicles are expected to reshape market dynamics. Countries must adapt to changes in automotive manufacturing trends, with potential investment in innovative technologies likely to benefit countries like Portugal and Croatia, which are currently experiencing significant growth. Sustainability and efficiency improvements will also drive changes across the European automotive steel parts market.
Top countries in Sold Production of Drop Forged (and Precision Forged) Steel Parts for Land Vehicles Share by Country (Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 35.51 | 2023 | +8.16% | +0.52% | View data |
| 2 | 2 Germany | 31.5 | 2023 | +7.51% | +1.14% | View data |
| 3 | 3 Italy | 20.72 | 2023 | +7.66% | +1.11% | View data |
| 4 | 4 France | 5.44 | 2023 | +1.95% | -2.92% | View data |
| 5 | 5 Czechia | 1.87 | 2023 | |||
| 6 | 6 Portugal | 1.09 | 2023 | +1.55% | +14.48% | View data |
| 7 | 7 Austria | 0.82 | 2023 | +8.45% | -0.47% | View data |
| 8 | 8 Hungary | 0.53 | 2023 | +1.77% | -2.4% | View data |
| 9 | 9 United Kingdom | 0.29 | 2023 | -12.02% | -9.11% | View data |
| 10 | 10 Croatia | 0.019 | 2023 | +5.06% | +9.17% | View data |
